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Introductions

Thought it would be nice as we will be 'neighbours' in the near future to introduce ourselves.

Steve Harding, married to Claire and have 3 children. We live in Brighton, England and bought our unit D PH18 direct from the developer.
admin

lol. After double checking Ive actually bought in Building C PH11, sorry Rebecca my heart missed a beat there!! That what 4yrs does to you! Wink
international lawyer

Caicos Beach

Hello my name is Stefano Lucatello, Senior Partner of The International Property Law Centre LLP. We are the largest specialist International Property Law Firm in the UK.You can see who we are by visiting our site at WWW.INTERNATIONALPROPERTYLAW.COM

I am not an owner but assist about 30 purchasers currently on this development.

I visited the site last October with Brian and with his Co director just a few days after Hurricane Ike and stayed there to understand how matters are progressing and the future of the site.

We have a very good working relationship with the developer Brian Rahl and have recently received replies to a list of questions we sent him, on various issues that had appeared on another site.

If we can assist any of you or you feel we could act as intermediaries on any aspect then please feel free to tell your group.

I think it is important to understand that with the delays due to Ike, the intervention by the Crown and other issues, the use by the developer of the force majeure clause was inevitable. I also think that this not one of those developments sites where investors have made an investment and will never see it again such as Punta Perla in the Dominican Republic, where we are acting for about 200 investors who will never see their money again.

Stefano Lucatello
rael

Just wondering why if you had such good access to the developers and information that you did not invest in this deal?

But good to know we have a lawyer ready and waiting whichever way this turns out.

rael
richard warriner

Message for Steffano - Hi and thanks for your posting. Really just looking for clarity. Understand that the force majeure clause can potentially be used here - however still raises a few key questions:
1. I can't recall the specifics of the clause but they are normally detailed (rather than just relying on the underlying assumption of act of god). I'm guessing that the hurricane damage is likely to be covered but less sure that the corruption / crown intervention would be.... ?
2. If we work on the assumption that the FM clause does apply do you have a view as to what would constitute a reaonable delay under this clause ?
3.  Has the developer exceeded what could be considered reasonable and would this be grounds for a potential breach of contract... and refund of monies paid / costs ?

Would be good to get some real clarity around this issue.
Thanks

N.B. Steve - echoing comments already made - well done for setting up !!!
johng

Hi, my name is John.  Im from Toronto, Ontario Canada.
Building J PH5.

Im one of maybe 30-40 people that invested in this project a couple of years ago. The group that sold us this investment is have problems with our security commissions so we have been left in the dark.

Stefano, is it possible for you to give us some of the questions and answers that was asked by your group.
How is this different from your Dominican Republic project?

Also, I have read a couple of times that one investor got there money back.  Does anyone have any information on this.


Thanks
john

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